Budget for 2025 to be submitted to Parliament next week

published on 12/4/24 3:43 PM

Людмила Петкова

Photo: BTA

The draft budget for 2025 will be submitted by the caretaker government to the National Assembly at the end of next week, Finance Minister Lyudmila Petkova said. The draft includes a planned deficit of 3%, or BGN6 billion (about EUR3 billion).

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There are no plans to change tax rates and there will be no increase in social security contributions. The budget proposes tax amnesties for taxes and contributions declared but not paid on time, as well as for undeclared income, with interest on these amounts being waived. Excise duties on tobacco, tobacco products and alcoholic beverages will be increased.

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The minimum wage will be set at BGN 1,077 (EUR 550.66) and a 10% increase in salaries for public sector employees is also planned.

Due to the political stalemate in Parliament, Petkova admitted that next year's budget could be adopted in early 2025, with the possibility of an extension law for this year's budget.

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Budget for 2025 to be submitted to Parliament next week

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